27700 Avenida Terrazo, Cathedral City, CA 92234

Eric Chen

CA 01489184

Listed by CBRE - Ontario

$1,200,000

94 days on market

Updated 23 days ago

27700 Avenida Terrazo

Details

APN

677173055

Property Type

Multifamily

Sub Type

Apartment Building

Square Footage

4,200

Net Rentable (SqFt)

4,200

Units

Cap Rate

5.02%

NOI

$60,220

Price per SqFt

$286

Year Built

1983

Buildings

Stories

Acreage

0.430

Zoning

Assessor

Investment Type

Value Add

Multifamily | 7 Units | $171,429/unit

Marketing description

We are proud to present 27700 Avenida Terrazo, a compelling 7-unit multifamily investment opportunity in the highly desirable Coachella Valley market and the thriving city of Cathedral City. This well-located asset sits directly across from the DoubleTree by Hilton Hotel Golf Resort Palm Springs, providing tenants with a premium location and unparalleled convenience to essential retail and lifestyle amenities. Its prime positioning offers quick access to destinations like Starbucks, Stater Bros. Market, Dennys, CVS, and Jack in the Box, all within walking distance. The area also benefits from proximity to acclaimed leisure spots, including Escena Golf Club and Cimarron Golf Resort, and is within a short driving distance of the world-class shopping and luxury retail of the Palm Springs desert, including the famed El Paseo Shopping District (The Rodeo Drive of the Desert) in Palm Desert. 27700 Avenida Terrazo is a one-story, 7-unit multifamily property spanning a generous 19,731 SF lot size with a 4,200 SF building size. It features an excellent unit mix designed for broad appeal: six 1-bedroom/1-bathroom units and one 2-bedroom/2-bathroom unit, averaging a comfortable size of 600 SF each. Built in 1983, the construction is low-maintenance, featuring a Spanish tile roof and low-water-use desert landscaping with decorative rock features and mature palm trees. Further enhancing the investment profile, the property offers a highly desirable amenity set including fully equipped kitchens with Stainless Steel appliances and modern backsplashes, alongside upgraded bathrooms and kitc

Investment highlights

Rare 7-Unit Multifamily Opportunity in a Prime Coachella Valley Location

A compelling investment in a thriving, high-demand resort market known for strong rental fundamentals and year-round tourism drivers.

Stable Unit Mix for Broad Tenant Appeal

Features a desirable unit composition of six 1-Bedroom/1-Bathroom units and one 2-Bedroom/2-Bathroom unit, averaging a spacious 600 SF each, catering to a wide range of renters.

Modern Upgrades and High-Demand Amenities

Units feature upgraded bathrooms and kitchens, Stainless Steel appliances, tile flooring throughout, and individual wall A/C and heating. Property amenities include an on-site laundry facility, private individual porches, and a plethora of surface parking.

Exceptional Walkable Location to Essential Retail, Luxury Golf & Employers

Located directly across from the DoubleTree by Hilton Hotel Golf Resort Palm Springs and within walking distance of Starbucks, Stater Bros. Market, Denny’s, CVS, and Jack in the Box. The property is also minutes from Escena Golf Club and Cimarron Golf Resort.

Strong Growth Potential in a Low-Maintenance Asset

The one-story construction with a Spanish tile roof and desert landscaping minimizes maintenance and capital expenditures, positioning the asset for stable cash flow and future value-add potential through modernizing unrenovated unit interiors.

Minutes from Major Regional Economic and Lifestyle Hubs

Direct access to the I-10 Freeway and Highway 111, providing quick commutes to the Palm Springs Airport, Downtown Palm Springs, Costco Wholesale, and world-class shopping, including the El Paseo Shopping District.

Favorable Rental Market Dynamics

The Coachella Valley market continues to see growing demand for rental housing due to lifestyle migration and a limited supply of multi-family product, ensuring long-term rent growth potential.

Ideal Acquisition for Multiple Buyer Profiles

The turn-key nature and strong location of the property make it an attractive and secure investment for a first-time purchaser, a seasoned investor, or a buyer seeking a smooth 1031 exchange.